UBS Maintains a 'Buy' on SL Green Realty (SLG); Still Positive Following the Run

UBS maintains a 'Buy' on SL Green Realty (NYSE: SLG) price target raised from $78 to $80.

UBS analyst said, "Various Q3 data points support our Buy thesis on SLG: 1) leasing is well ahead of plan on pricing and volume, 2) continued momentum on the investment front with 2 large structured deals closed and expansions into prime retail locales, 3) supportive transaction comps (2 Grand Central trading at $616psf and SLG’s land sale at 292 Madison for $440/psf implying high $500’s/psf for the land/building). Trading at $560psf on Manhattan assets and 16% below FWD NAV, we remain positive on SLG shares."

For more ratings news on SL Green Realty click here and for the rating history of SL Green Realty click here.

Shares of SL Green Realty closed at $71.13 yesterday.

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